USD/JPY Forecast October 8, 2015, Technical Analysis

The USD/JPY pair did very little during the course of the day on Wednesday, as we continue to hang about the 120 level. This is the level that has been attracting traders for some time, and as a result it’s not a huge surprise to see that attracting markets yet again. Having said that though, the Federal Reserve releases the FMOC Meeting Minutes today, and that of course can move expectations as far as interest rates are concerned. With that, we believe that this pair will perhaps get some volatility going, and with that we are buyers on a break above the 121 handle, but we are not interested in selling.